PVAL Fees and Costs — Principal Contrarian Value Index ETF
Data updated: 2020-09-09
The net expense ratio is 0.29%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $3K in broker commissions, 0.0652% of average net assets, and portfolio turnover was 47%.
PVAL Fees and Expenses
Annual operating expenses and sales charges of PVAL. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PVAL Costs Over Time
On $10,000 invested in PVAL, assuming 5% a year before costs, total costs come to $225 over 5 years, cutting the return by 0.37% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $7 | $22 | $38 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $37 | $123 | $225 |
| Value after costs | $10,463 | $11,453 | $12,538 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
PVAL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0652%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $1.3M
- Portfolio turnover (prospectus): 47%
- Securities on loan, average value: $14K
- Net income from securities lending: $293 (0.006% of average net assets)
PVAL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Bofa Securities, Inc. | $3K | 94.79% |
| Raymond James & Associates, Inc. | $38 | 1.22% |
| Sanford C. Bernstein & Co., LLC | $36 | 1.16% |
| Citigroup Global Markets Inc. | $30 | 0.97% |
| Goldman Sachs & Co. LLC | $18 | 0.58% |
| J.P. Morgan Securities LLC | $12 | 0.38% |
| Virtu Americas LLC | $11 | 0.36% |
| Credit Suisse Securities (USA) LLC | $9 | 0.29% |
| Stifel, Nicolaus & Company, Incorporated | $6 | 0.18% |
| Instinet, LLC | $2 | 0.07% |
PVAL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $956K | 72.41% |
| State Street Bank and Trust Company | $364K | 27.59% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.